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Oil companies are disappearing. How to deal with the "three barrels of oil"?

Shell, BP, Total... are all internationally renowned oil companies. But now, they are rapidly updating their "personality" and accelerating their low-carbon transformation. If everything goes well, there will be no need for them. How long will it take before there will be no oil companies in Europe? International oil giants such as Shell, BP, Total, and Statoil have all set the goal of achieving carbon neutrality by 2050. Focusing on improving energy efficiency, developing efficient clean products, and conducting research and development of low-carbon energy technologies, companies have successively formulated strategic transformation plans: Shell accelerated transformation and business adjustment, adjusting its core oil and gas business to transformation business, and its oil production will decrease by 1% every year. to 2%, and regards electricity, hydrogen, biofuels, etc. as growth businesses. BP plans to reduce BP oil and gas production by 40% in the next 10 years, increase green energy investment to US$5 billion by 2030, and expand renewable energy (wind energy, solar energy and hydropower) production by 20 times. Total plans to increase total renewable energy generation capacity to 25 GW in 2025.

Global and Chinese carbon dioxide emissions have increased year by year from 1965 to 2019 (unit: million tons)

As my country proposes the “30·60” dual carbon target, the “three barrels of oil "Invariably, they focused on low-carbon transformation and presented a "tailor-made" transformation plan.

01

PetroChina: Increase the proportion of natural gas production

Compared with oil, natural gas, as a clean and environmentally friendly high-quality energy, has shifted from high carbon to low carbon. , the main transitional energy to accelerate the realization of "carbon peak and carbon neutrality". In recent years, domestic natural gas consumption has increased year by year, reaching 300 billion cubic meters in 2020, accounting for 9% of primary energy consumption.

Proportion of primary energy consumption in my country from 1965 to 2019

As the largest domestic natural gas supplier, PetroChina will increase the proportion of natural gas production as part of the implementation path of "carbon peaking and carbon neutrality" one of the important measures.

The Board of Directors of PetroChina has determined a three-step overall deployment of "clean substitution, strategic succession, and green transformation": the first step is to promote further growth of natural gas production. By 2025, natural gas production will account for 10% of the company's oil and gas production. The proportion is increased to 55%; the second step is to use the company's existing oil and gas mineral rights resources to develop wind, solar and geothermal resources, promote the integrated development of wind, photovoltaic and electricity, and transform into an oil, gas, thermal, electricity and hydrogen comprehensive energy company; the third step is to promote the actions of green enterprises Plan to vigorously promote the development of carbon removal technologies such as CCUS (carbon capture and utilization).

On this basis, further refine the timetable to achieve "carbon peaking and carbon neutrality" at low cost: strive to achieve "carbon peaking" around 2025, and externally supplied green zero-carbon energy in 2035 will exceed The fossil energy consumed by itself will achieve "near-zero" emissions around 2050.

02

Sinopec: Accelerate the layout of the hydrogen energy industry

Hydrogen energy accelerates its development and gradually replaces fossil energy, which may become the ultimate solution to achieve "carbon neutrality" plan. The promotion of hydrogen fuel cell vehicles can achieve zero emissions and reduce dependence on petroleum.

Comparison of calorific values ??of common fuels (unit KJ/g)

Sinopec regards hydrogen energy as its main development direction and focuses on the all-round layout of the complete hydrogen energy industry chain. As one of China's largest hydrogen energy suppliers, Sinopec's annual hydrogen production capacity has exceeded 3 million tons, accounting for approximately 14% of the country's total production. In September 2020, Sinopec announced that the first high-purity hydrogen production demonstration device with independent intellectual property rights was successfully put into operation, purifying refinery by-product hydrogen to 99.999% for the first time in China, which is much higher than the national standard. In terms of hydrogen energy storage and transportation, Sinopec has actively promoted scientific and technological innovation through massive capital investment and scientific research, effectively improving the level of storage and transportation technology and reducing storage and transportation costs. As of the end of 2020, China has built more than 100 hydrogenation stations. Sinopec plans to build 1,000 hydrogenation stations or oil-hydrogen joint stations during the "14th Five-Year Plan" period to build China's largest hydrogen energy company and accelerate its transformation into "oil, gas, hydrogen and electricity". Transformation of non-comprehensive energy service providers.